Topic > Camera Industry - Threats - 2648

Camera Market Introduction According to a new market report published by Transparency Market Research, the global camera module market was worth $12 billion in 2012 and is expected to reach $43 billion, 06 billion dollars in 2019, with a growth of about 19.7% from 2013 to 2019. Asia Pacific was the largest market for camera modules in 2012 with countries such as China, India, Taiwan, Korea, Japan and Singapore who supported its growth. North America was the second largest market. However, the market is mainly driven by the growing application of camera modules in smartphones, tablet PCs, automotive, and rapid improvement of technology in the camera module market. Among different applications, the smartphone and tablet PC industry is the largest and is expected to grow at the rate of 21.9% from 2013 to 2019, followed by consumer electronics (excluding smartphones and tablet PCs) in 2012. It is notable that smartphones are slowly killing the camera market. Developments in sensor and lens technology have shown that consumers are turning to smartphones rather than the traditional camera. For example, Canon, the world's largest camera manufacturer, recently cut its sales and profit forecasts for this financial year. According to market research firm HIS, global camera sales fell to 115 million units this year, or a decline of 4.3%. Additionally, there have been very few innovations among camera manufacturers in recent years. There have been cases where new cameras have been outclassed by older ones, so there is little appetite to upgrade. Although new technologies such as mirrorless cameras have been introduced, the situation has not changed much. Since professional photographers already had an SLR, they are reluctant... middle of paper... satisfied, could make use of the other options. This would allow the photographer to evaluate the view and click the shot as per his requirement. Organizing free tours in picturesque places - this is an additional service that could be provided to a handful of regular and loyal customers from all over the world. Photography began as a passion for most people. Therefore, organizing tours to locations that feature picturesque sceneries could motivate customers to remain loyal to the brand. This could also lead to positive evangelism, which could be beneficial to the company in many ways. By organizing such tours, the company would also motivate new customers to head towards them. These are additional privileges that would be provided by the company. Therefore, it may be limited to customers, based on the price range of the product.